Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    651 N US Hwy 183 Leander, TX 78641

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease near Highway 183 and Hero Way.

    Type:Retail
    Added:
    Nov 17, 2020
    Days on Market:
    1985
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 651 N US Hwy 183

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2007

    Spaces For Lease

    at 651 N US Hwy 183 Contact us

    We can help!

    Listing Contact
    Ben Nudelman

    Listing agent Ben Nudelman License #TX 813037

    Listing office CLD Realty

    Listing date Nov 17, 2020

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CLD Realty

    Overview

    Retail Space Near Leander TOD

    This commercial real estate is located at the northwest corner of Highway 183 and Hero Way, across from the Leander Transit-Oriented Development (TOD) and Metro Rail station. The property is anchored by a 150,000 square foot HEB Plus, which provides multiple access points.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Leander Northline — San Gabriel Pkwy, Leander, TX 78641
    • Coinstar Kiosk | Bitcoin ATM — H.E.B., 651 N Hwy 183, Leander, TX 78641

    Location Insight

    • Map
    • Local Demand
    City
    Leander
    County
    Travis
    State
    Texas
    Longitude
    -97.9247
    Latitude
    30.558

    Nearby Similar for Lease

    • $2,005/Mo

      Leander Flex Space For Lease

      Office/warehouse flex space in a quiet Leander industrial park.
      2918 County Road 175 300, Leander, TX 78641
      View Details
    • $1,895/Mo

      Prime Leander Office Space

      Office space in prime location, available May 1, 2026.
      660 S Bagdad Rd 120, Leander, TX 78641
      View Details
    • $1,900/Mo

      Office Space Available For Rent

      Office space available for lease, single rooms possible.
      10824 E Crystal Falls Pkwy 503, Leander, TX 78641
      View Details
    • $2,200/Mo

      Leander Office Suite For Rent

      Office suite near Leander High School with private offices.
      2501 S Bagdad Rd Unit B, Leander, TX 78641
      View Details
    • Contact for pricing

      Leander Workshop with Yard Space

      Versatile 4.9-acre site with workshop and outdoor operational space.
      1400 Spivey Rd # Leander Tx 78641, Leander, TX 78641
      View Details
    • $14 SF/Yr

      New Leander Office/Warehouse Business Park

      New office/warehouse business park in booming Leander sub-market.
      775 County Rd 270, Leander, TX
      View Details
    • $26 SF/Yr

      New Office Suites Available Now

      Brand new office suites available for lease in Leander, TX.
      3835 Co Rd 175, Leander, TX
      View Details
    • Contact for pricing

      Centro Plaza

      New end-cap retail space in high-growth Leander corridor.
      14300 Leander Tx 78641 UNIT 802, Leander, TX 78641
      View Details
    • Contact for pricing

      Medical Office Development in Leander

      Medical office development opportunity near HCA St. David’s Hospital.
      000 San Gabriel Parkway, Leander, TX 78641
      View Details
    • Contact for pricing

      Leander Retail Space Available

      Retail space available for lease in Leander, Texas.
      1972 HWY 183, Leander, TX 78641
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease, 2186 square feet.
      3651 N Hwy 183, Leander, TX 78641
      View Details
    • $17 SF/Yr

      10,000 - 25,000 SF Flex Office/Warehouse FOR SALE OR LEASE

      New flex warehouse in Leander, TX, ready Q3 2025.
      2205 Downing Ln, Leander, TX 78641
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space for lease near Highway 183 and Hero Way.
    Where is this shopping center located?
    The property is located at 651 N US Hwy 183 Leander, TX.
    What are key features of this property?
    This property features: Anchored by a highly visited 150,000 SF HEB Plus.; Located at the NWC of Hwy 183 & Hero Way.; Across from the Leander TOD (Transit‑Oriented Development).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ben Nudelman
    Real Estate License ID: TX 813037
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!